NGL Energy Partners increases FY26 adjusted EBITDA forecast to a range of $650M-$660M.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 05 2025
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Increased EBITDA Guidance: NGL has raised its consolidated adjusted EBITDA guidance for Fiscal 2026 to a range of $650M-$660M, up from the previous $615M-$625M.
Growth Capital Expansion: The company is increasing its growth capital from $60M to $160M due to new contracts supported by significant producer volume commitments.
Future EBITDA Expectations: NGL anticipates that the majority of the adjusted EBITDA from new contracts will be realized in Fiscal 2027, with expectations to exceed $700M.
Positive Business Performance: CEO Mike Krimbill highlighted strong performance in the Water Solutions business and ongoing initiatives aimed at enhancing value for Unitholders, including redeeming Class D Preferred equity and purchasing common units.
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Analyst Views on NGL
About NGL
NGL Energy Partners LP is a master limited partnership. It operates an integrated network of large-diameter wastewater pipelines, disposal wells and produced water handling systems in the Delaware Basin. It also operates wastewater disposal in the Eagle Ford and DJ Basins. In addition, it markets and provides other logistics services for crude oil, through its ownership of the Grand Mesa Pipeline System, Cushing terminal and other Gulf Coast terminals. Its Water Solutions segment transports, treats, recycles and disposes of produced and flowback water generated from crude oil and natural gas production. Its Crude Oil Logistics segment purchases crude oil from producers and marketers and transports it to refineries or for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities and other trade hubs, and provides storage, terminaling and transportation services. Its Liquids Logistics segment conducts supply operations for natural gas liquids.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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NGL Energy Partners Declares Q4 2025 Preferred Unit Distributions
- Distribution Announcement: NGL Energy Partners has declared quarterly distributions for its 11.460% and 11.369% preferred units, amounting to $0.7162 and $0.7106 per unit respectively, to be paid on January 15, 2026, reflecting the company's commitment to shareholder returns.
- Cash Distribution: The Board also approved a cash distribution of $14,618,325.21 for Class D preferred units, enhancing the company's attractiveness in capital markets and providing a steady income stream for investors.
- Financial Transparency: The announcement includes forward-looking statements that underscore the company's cautious approach to future performance, acknowledging potential risks while maintaining an optimistic outlook.
- Market Position: As a Delaware master limited partnership, NGL operates the largest integrated network of wastewater pipelines in the Delaware Basin, showcasing its strong capabilities and influence in the energy logistics sector.
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